People Moves: First State moves into emerging debt, Swedbank, Raiffeisen, F&C, Fund Platform Group
First State moves into emerging debt with former F&C manager at helm, Swedbank announces top management changes, Raiffeisen appoints managing director for fund advisory business, F&C recruits marketing head from SWIP, Luxembourg lobby body set up for distribution firms.
First State Investments
London-based asset management business of Commonwealth Bank of Australia First State Investments is branching into emerging market debt products, with two fund launches planned and a former F&C manager at its helm.
Helene Williamson will take on management of the emerging debt team in early September, having previously headed emerging market debt at F&C Asset Management.
She will be supplemented by a team of six, four appointments in London, and two existing employees from the firm’s global fixed interest and credit team in Hong Kong. Further details on who will make up that team will be announced in September, a spokesperson at the firm said.
In spite of concerns raised emerging markets will come under pressure from global market turmoil, many managers are turning to the region and particularly its debt as a source of future growth and because it is perceived as safer than the debt piles held by the US and Europe.
Changes are underway at the Swedish banking group, which has a new chief financial officer, chief risk officer, and head of Baltic banking.
All internal promotions, chief risk officer Göran Bronner becomes chief financial officer. Former postholder Erkki Raasuke will leave the company, having been offered other roles he did not accept, according to the Wall Street Journal.
On the change, President and CEO of Swedbank Michael Wolf said: “We are now entering a phase where we will increasingly focus on improvements regarding effectiveness, processes, and quality.
“With Göran Bronner as the new CFO, I will have a CFO with proven capacity to forcefully implement these changes,” he added.
Succeeding Bronner in his previous role as chief risk officer will be Håkan Berg, formerly head of Baltic banking. Taking up Berg’s role will be Birgitte Bonnesen, the bank’s head of internal audit.